Caterpillar (NYSE:CAT) PT Raised to $340.00 at Citigroup

Caterpillar (NYSE:CATFree Report) had its price objective raised by Citigroup from $255.00 to $340.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group upped their price objective on Caterpillar from $274.00 to $357.00 and gave the company a buy rating in a report on Tuesday, February 6th. Morgan Stanley initiated coverage on Caterpillar in a report on Monday, January 8th. They issued an equal weight rating and a $270.00 price objective on the stock. TD Cowen upped their price objective on Caterpillar from $300.00 to $338.00 and gave the company an outperform rating in a report on Tuesday, February 6th. Stifel Nicolaus upped their price objective on Caterpillar from $285.00 to $293.00 and gave the company a buy rating in a report on Tuesday, December 19th. Finally, Tigress Financial upped their price objective on Caterpillar from $282.00 to $295.00 and gave the company a buy rating in a report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Caterpillar currently has a consensus rating of Hold and an average price target of $288.61.

Read Our Latest Analysis on CAT

Caterpillar Trading Up 1.4 %

Shares of Caterpillar stock opened at $321.64 on Monday. The stock has a market cap of $163.75 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.53 and a beta of 1.15. The stock’s 50 day simple moving average is $291.49 and its 200-day simple moving average is $274.16. Caterpillar has a 1-year low of $204.04 and a 1-year high of $334.87. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.35 and a quick ratio of 0.87.

Caterpillar (NYSE:CATGet Free Report) last issued its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.47. The business had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.86 EPS. Analysts predict that Caterpillar will post 21.04 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, January 19th. Caterpillar’s dividend payout ratio is currently 25.82%.

Insider Transactions at Caterpillar

In other news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at approximately $17,774,001.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,194 shares of company stock valued at $13,000,471. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Caterpillar

Several large investors have recently bought and sold shares of CAT. BCK Partners Inc. purchased a new position in Caterpillar in the first quarter valued at $2,580,000. Sei Investments Co. boosted its stake in Caterpillar by 17.3% in the first quarter. Sei Investments Co. now owns 65,643 shares of the industrial products company’s stock valued at $14,634,000 after acquiring an additional 9,695 shares in the last quarter. Dakota Wealth Management acquired a new position in Caterpillar in the first quarter valued at $405,000. Mather Group LLC. boosted its stake in Caterpillar by 6.8% in the first quarter. Mather Group LLC. now owns 2,592 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 165 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Caterpillar by 4.4% in the first quarter. NewEdge Advisors LLC now owns 49,705 shares of the industrial products company’s stock valued at $11,075,000 after acquiring an additional 2,076 shares in the last quarter. Hedge funds and other institutional investors own 69.20% of the company’s stock.

About Caterpillar

(Get Free Report)

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, tractors, excavators, telehandlers, motor graders, and pipelayers; compact track and multi-terrain, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.

Further Reading

Analyst Recommendations for Caterpillar (NYSE:CAT)

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